Exploration and production (E and P) companies are increasing merger and acquisition (M and A) spending in the United States as stable crude oil prices and improved credit conditions in recent months allowed some companies to purchase assets or entire companies. The increase in M and A spending also suggests improved investor sentiment in the oil industry. The deals are concentrated in the Permian region of the United States, the area where the most drilling rigs have been deployed recently. The Permian is also the only onshore area where production is expected to increase in the next few months. …
Source: This Week in Petroleum